NEW PRODUCT: Personal cyber protection insurance

Crime is changing. Where a person was once concerned about various crimes such as burglary, mugging or blackmail, modern crime sees an increase in virtual impersonation and deception scams producing detrimental effects via online facilities.

Cybercrime, or crime undertaken online via means of a computer or the internet, is now one of the fastest growing crimes in the UK. Due to the increase in smart devices, the public are now more vulnerable to cyber-attack and a person’s exposure to evolving cybercrimes are far greater than it has been in recent years.

It is estimated that 3.6million cases of fraud and 2 million computer misuse offences take place in one year1. However, cybercrime no longer just consists of offences surrounding theft of personal funds and online shopping fraud, cyber-attacks can now occur through theft of significant data and various methods of cyber bullying and defamation.

UK General have identified this opportunity and are pleased to have launched a Personal cyber protection insurance product for distribution via brokers and trading partners. The product, which has five levels of cover including recovery of insured data and loss from cyber bullying and defamation, is now live.